185C.26 - DEPOSIT OF MONEYS -- CORN PROMOTION FUND.
185C.26 DEPOSIT OF MONEYS -- CORN PROMOTION FUND.
A state assessment collected by the board from a sale of corn
shall be deposited in the office of the treasurer of state in a
special fund known as the corn promotion fund. The fund may include
any gifts, rents, royalties, interest, license fees, or a federal or
state grant received by the board. Moneys collected, deposited in
the fund, and transferred to the board as provided in this chapter
shall be subject to audit by the auditor of state. The department of
administrative services shall transfer moneys from the fund to the
board for deposit into an account established by the board in a
qualified financial institution. The department shall transfer the
moneys as provided in a resolution adopted by the board. However,
the department is only required to transfer moneys once during each
day and only during hours when the offices of the state are open.
From moneys collected, the board shall first pay all the direct and
indirect costs incurred by the secretary and the costs of
referendums, elections, and other expenses incurred in the
administration of this chapter, before moneys may be expended for the
purpose of carrying out the purposes of this chapter as provided in
section 185C.11. Section History: Early Form
[C77, 79, 81, § 185C.26] Section History: Recent Form
89 Acts, ch 198, §15; 94 Acts, ch 1146, §36; 98 Acts, ch 1030, §2;
2003 Acts, ch 145, §286; 2004 Acts, ch 1024, §6
Referred to in § 185C.21, 185C.24, 185C.27, 185C.28